Termination on Sale. Owner shall notify Property Manager at least 30 days before an anticipated transfer of title to the Premises. On transfer of title to the Premises, this Agreement shall automatically terminate.
Termination on Sale. Upon consummation of the purchase and sale of a Member’s Interest to another Member under this Article 10, (i) the selling Member’s Interest in the Company shall be fully and completely settled and terminated, and (ii) the selling Member’s rights and obligations under this Agreement shall terminate, except (x) as to items incurred or accrued as of such date and not subject to indemnification hereunder, and (y) as to any indemnity obligations of such selling Member attributable to acts or events occurring prior to such date or otherwise specified in this Article 10.
Termination on Sale. If the Property is sold, exchanged or otherwise transferred by Owner at any time during the Term, (a) Owner shall provide Property Manager with reasonable advance notice of the proposed transfer, (b) this Agreement shall terminate as of the effective date of the transfer, and (c) neither Owner nor Owner's successor shall have any further liability to Property Manager under this Agreement except with respect to Management Fees earned and unpaid as of the date of termination.
Termination on Sale. This Agreement ends if You sell or dispose of the Vehicle unless the new owner makes a valid transfer of the Agreement. The Agreement can only be transferred to a private individual who first agrees to be bound by the liabilities, exclusions, terms and conditions of the Agreement by sending Us a completed “Form of transfer” (as included in this booklet), together with the transfer fee. If, in the event of Your death, ownership of the Vehicle passes to an immediate relative, the Agreement automatically continues for the benefit of that person.
Termination on Sale. This Agreement shall automatically terminate upon the sale of the entire Property without payment of any termination fee.
Termination on Sale. Upon consummation of the purchase and sale of a Partner’s entire Interest to another Partner under this Article 9, (i) the selling Partner’s Interest in the Partnership shall be fully and completely settled and terminated, and (ii) the selling Partner’s rights and obligations under this Agreement shall terminate, except (x) as to items incurred or accrued as of such date and not subject to indemnification hereunder, and (y) as to any indemnity obligations of such selling Partner attributable to acts or events occurring prior to such date or otherwise specified in this Article 9.
Termination on Sale. This Agreement shall terminate, at the option of the Owner, by giving thirty (30) days written notice to Manager, upon sale of the Property by Owner.
Termination on Sale. This Agreement shall automatically terminate upon the sale of the entire Project and payment of all fees due the Property Manager hereunder.
Termination on Sale. Owner may terminate this Agreement on the sale of the Hotel to a bona fide third party purchaser; provided, that: (i) Owner provides Manager with thirty (30) days’ prior written notice and (ii) Owner pays to Manager all fees and reimbursements accrued and earned up through the date of termination. Unless otherwise specifically provided in this Agreement, the termination of this Agreement shall not affect the rights of either party set forth in this Agreement with respect to liability or claims that accrued, or that arise out of events occurring, on or prior to the date of the termination, or with respect to provisions of this Agreement that survive termination.
(i) Manager shall (to the extent permitted by law) assign to Owner all operating licenses for the Hotel which have been issued in Manager’s name. Manager recognizes that all licenses held for the operation of the Hotel are held for the benefit of Owner, and Manager has no ownership therein, except in order to fulfill its obligations hereunder. In the event licenses are not assignable, Manager shall reasonably cooperate with Owner to cause such licenses to be reissued in the name of Owner, new manager or Owner’s designee.
(ii) Manager shall not delete any electronic records or data relating to the operation of the Hotel, whether contained in the computers located at the Hotel or elsewhere, without prior notice to and the written consent of Owner, which consent may be withheld in the sole and absolute discretion of Owner. Notwithstanding the foregoing, Manager may destroy these records or data in accordance with Manager’s document retention and destruction policies upon first providing Owner with at least thirty (30) days’ prior notice and receiving Owner’s approval.
(iii) Various other actions shall be taken, as described in this Agreement, including but not limited to the actions described in Section 5.05.
(iv) Manager shall reasonably cooperate with the new operator of the Hotel to effect a smooth transition and shall peacefully vacate and surrender the Hotel to Owner. Owner shall use its best efforts to cause such new operator to cooperate with Manager in effecting a smooth transition with as little hindrance to the operation of the Hotel prior to such transition as is reasonably practicable.
(v) Manager shall turn over (a) all equipment, supplies, keys, locks, safes, combinations, computer passwords, key cards, and access codes to Owner, (b) all hotel assets, including all cash in Manager’s custo...
Termination on Sale. Notwithstanding any provision in this Agreement to the contrary, Master Tenant shall have the right to terminate this Agreement upon any sale of the Hotel. Master Tenant may exercise the right of termination under this Section by giving Management Company written notice on the date of such sale.
